Under Louis Chênevert UTC Flourished

Canadian businessman Louis Chênevert, a former chairman and CEO of UTC (United Technologies Corporation). He attended a French-language business school known as HEC Montréal, which is a subsidiary of University of Montréal business school, where on May 2011, he earned an honorary doctorate from the HEC Montréal. That same year, a United States aviation trade magazine, Aviation Week named him Person of the Year. That was because of Chênevert’s contributions to the industry of aviation.

Chênevert was elected CEO and Chairman of UTC in March 2006. On Dec. 8, 2014, he resigned from his CEO of UTC role. The manufacturing sector in the era of postwar in America is often described as a tale of decline. The sector’s contribution to the GDP had declined by 50 percent and the companies that had previously flourished like the Baldwin Locomotive and Zenith were left in total ruins in the industrial heartland of America.

Under the leadership of Chênevert, UTC was able to flourish even in the face a disinterested pop culture, fierce competition from the foreign manufacturers, and stifling regulations. UTC was gigantic industrial conglomerate worth 63 billion dollars, headquartered in Hartford, Connecticut. Among the most notable aspects of the role of Chênevert in the history of UTC is the fact that the company managed to continue being the market leader in innovation specifically in the building space and aerospace, without paying low salaries to workers, without leaving its birthplace. Also, without avoiding environmental compliance as well as other public concern matters.

According to Forbes, Chênevert’s tenure at the top had amazingly seen the share-price of UTC increased from a low of 37 dollars to 117 dollars in 2014, which was an appreciation of 200 percent in shareholder value even if the steady dividend payout was not counted.

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